Just closed: Montefiore raises €420m

Alongside a strong base of European investors, the share of international investors rose by 60% when compared to the previous fund.

-

Montefiore Investments has held a final close on its fourth flagship fund at €420 million. The capital will be invested into French SMEs, following a similar strategy to previous vehicles in this series.

Montefiore Investments III, the fund's predecessor, held a €240 million final close in October 2013.

Three quarters of all capital was raised from institutional investors. Funds of funds played a big role in the fundraising process, as did other institutions: pension funds; insurance companies; university endowments; governmental funds and banks. The fund's LP base was more international than the firm's previous vehicles. The share of non-European investors grew by 60% as LPs from the United States, Canada, Korea, Japan and Australia all committed to the fund.

ELM Capital was the sole placement agent working on the fundraise. Clifford Chance offered legal advice.